MONTREAL, Jan. 27, 2021 (GLOBE NEWSWIRE) -- WSP Global Inc. (TSX: WSP) (“WSP” or the “Corporation”) is pleased to announce that it has acquired kW Mission Critical Engineering (“kW MCE”), a leading 175-employee engineering firm based in Troy, New York serving the data center market. WSP is also pleased to announce the acquisition of tk1sc, a 240-employee mechanical, electrical and plumbing engineering firm based in Irvine, California. Both transactions will further consolidate WSP’s Property and Buildings business in the complex data center, healthcare, and science and technology markets in the United States.
“Welcoming kW Mission Critical Engineering and tk1sc into the WSP family further expands our building sector capabilities in the high growth data center, healthcare and science + technology markets in the United States while also significantly increasing our presence on the West Coast and providing us a platform to expand our data center capabilities in Europe and Asia,” commented Alexandre L’Heureux, WSP’s President and Chief Executive Officer. “In line with our 2019-2021 Global Strategic Plan, these acquisitions solidify our already strong presence in these complex markets, which will now represent in excess of 65% of our Property and Buildings practice in the United States.”
The acquisitions reflect WSP’s focus on growing markets that will continue to have a profound impact on our society globally. Demands for healthcare, science + technology, and data center facilities have been on an upward trajectory for many years. The positive outlook for the data center market has been accelerated as a result of the pandemic, with business closures and stay-at-home orders around the world fueling an increase in streaming services, digital communication and workplace coordination technologies, among others.
“We have been committed to growing these complex markets for several years, resulting in our position as the largest engineering firm in the United States serving healthcare clients and the second largest in laboratory facilities,” said Lou Cornell, President and CEO of WSP USA. “Adding tk1sc solidifies our leadership in both of these markets, while adding kW Mission Critical Engineering will place us in the top five engineering firms serving data center clients.”
Commenting on the transaction, kW MCE co-founders Chris Kurkjian and James Warren said: “Combining our mission critical expertise with WSP’s global footprint will allow us to continue our growth plan, offer opportunities to our employees, and better support the expansion goals of our partners and clients.”
Also commenting on the transaction in a joint statement, tk1sc CEO Roger Carter and CFO Ray Swartz said, “Becoming a member of WSP is great news for our company and employees. By joining WSP, we will be able to provide additional opportunities for employees to grow, expand our client base and play a key role in further developing WSP’s building sector on the West Coast.”
ABOUT KW MISSION CRITICAL ENGINEERING
Launched in 2012, kW MCE is dedicated to engineering data centers and buildings with a continuous uptime requirement. The high-performance consulting firm offers comprehensive mechanical, electrical, plumbing, fire protection, controls, telecommunications, and security system design for buildings that operate 7x24xforever. From strategic campus master planning, to specialized system design, and multi-phase building assessments, kW MCE provides expertise on critical power and cooling infrastructure decisions to meet clients’ operational demands—all with an emphasis on budget, schedule, and risk.
tk1sc, headquartered in Southern California, is a multi-discipline professional engineering firm with over 240 employees that for the past 40 years has been an integral part of shaping the built environment in the Western United States. Working collaboratively with industry partners, tk1sc is a leader at providing innovative, environmentally appropriate design solutions for technical challenges across a large variety of building types and market sectors. The wide-ranging engineering services that tk1sc provides include mechanical, electrical, plumbing, technology, fire protection, security, lighting, commissioning and energy and sustainability. This comprehensive mix of services allows tk1sc to maximize performance of building systems and indoor environmental quality while minimizing the effect on the environment by conserving energy and water.
As one of the world’s leading professional services firms, WSP provides engineering and design services to clients in the Transportation & Infrastructure, Property & Buildings, Environment, Power & Energy, Resources and Industry sectors, as well as offering strategic advisory services. WSP's global experts include engineers, advisors, technicians, scientists, architects, planners, environmental specialists and surveyors, in addition to other design, program and construction management professionals. Our talented people are well positioned to deliver successful and sustainable projects, wherever clients need us. For more information about WSP, please visit wsp.com.
Certain information regarding WSP contained herein may constitute forward-looking statements. Forward-looking statements may include estimates, plans, objectives, expectations, opinions, forecasts, projections, guidance, outlook or other statements that are not statements of fact, including statements regarding the sufficiency of WSP’s liquidity and working capital requirements for the foreseeable future. Forward-looking statements made by the Corporation in this press release are based on a number of assumptions believed by the Corporation to be reasonable as at January 27, 2021, including assumptions about general economic and political conditions; the state of the global economy and the economies of the regions in which the Corporation operates; the state of and access to global and local capital and credit markets; the anticipated impacts of the COVID-19 pandemic on the Corporation’s businesses, operating results, cash flows and/or financial condition, including the effect of measures implemented as a result of the COVID-19 pandemic.
Although WSP believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements, including risks relating to the COVID-19 pandemic. WSP's forward-looking statements are expressly qualified in their entirety by this cautionary statement. The complete version of the cautionary note regarding forward-looking statements risk factors, which, if realized, could cause the Corporation's actual results to differ materially from those expressed or implied in forward-looking statements, are included in the amended Management’s Discussion and Analysis for the year ended December 31, 2019 and the Management’s Discussion and Analysis for the quarter ended September 26, 2020, which are available on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and WSP does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws.
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